Home / Knowledge / News / Apparel/Garments / Apparel sales down 14% at Raymond in Q1 FY'14
Apparel sales down 14% at Raymond in Q1 FY'14
26
Jul '13
Raymond Limited announced its unaudited financial results for the quarter ended June 30, 2013. Certain business segments in the published financial statements have been reclassified in the current quarter to provide better clarity on business performance. The corresponding prior period figures have also been reclassified to conform with the revised classification.

The Textile segment sales for the quarter ended June 30 2013 grew by 13% on the back of higher volumes and better realization. EBITDA margins for the quarter improved by 400 bps y-o-y to 9%.

The Apparel segment sales for the quarter stood at Rs 158 Crores, down by 14% y-o-y and reported a loss at the EBITDA level of Rs 10 Crores. The business has been impacted due to lower primary off take, besides higher retail expenses consequent to new stores added in the last year.

Raymond stores count as at June 30, 2013 stood at 944 across all formats, including 41 stores in the Middle East and SAARC region covering over 1.8 million square feet of retail space. During the quarter ended June 30, 2013, like to like sales growth across all formats was 8%, with secondary sales through the retail network registering a growth of 14% y-o-y.

The High Value shirting fabric business grew by 4% to Rs 71 Crores during the quarter. However, EBITDA for the quarter was impacted due to higher input costs and lower exports.

Sales of Denim business grew by 4% to Rs 232 Crores, while EBITDA margins were flat at 12%. Sales of Tools & Hardware segment grew by 5% led by domestic market. However, EBITDA margins for the quarter were lower due to higher sales of products to low margin geographies and new product launches.

Announcing the results, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “Due to the seasonal nature of our business, the first quarter results of Raymond are not reflective of full year’s performance. High interest cost besides volatile currency environment also contributed to weak financial performance.

We are hopeful that the global economic uncertainties and the domestic scenario will improve in the coming quarters. We believe that the domestic consumption story in India is intact and will accordingly continue to focus on operational efficiencies, brand building and retail expansion."

Awards and Recognition: Raymond Limited chosen as the most respected Textile and Apparel company in the sector by Fortune India Magazine July 2013 issue.

Raymond

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search